Closing Bell: Sensex Gains 185 Points as IT Stocks Jump 2.6%, Rupee Rises 173 Paise
- 2nd April 2026
- 04:40 PM
- 2 min read
Summary
Indian equity markets closed higher on Thursday despite opening sharply lower, as a strengthening rupee and steady buying through the session helped indices recover significant ground. The Sensex gained 185 points while the Nifty 50 ended at 22,713, recovering 513 points from its intraday low. Broader markets remained under pressure. The Nifty Midcap 100 declined 0.3% and the Nifty Smallcap 100 fell 0.4%.Mumbai | 2 April 2026
Why Did Markets Recover? 3 Key Factors
1) Rupee strengthens 173 paise against the dollar
The Indian rupee closed at 93.10 per dollar on Thursday, up 173 paise from Monday’s close of 94.83. Analysts attributed the move to RBI measures targeting speculative positioning in the currency market, with the central bank reinforcing hedging discipline over speculative currency holdings. Analysts expect the USDINR pair to consolidate between 92.30 and 93.50 in the near term, with the longer-term direction linked to global dollar liquidity, crude oil prices, and geopolitical developments.
2) IT stocks lead sectoral recovery
The Nifty IT index rose 2.6%, emerging as the session’s standout performer and a key driver of index recovery. HCL Technologies, Tech Mahindra, TCS and Wipro featured among the top Nifty gainers. Tata Consumer also closed in positive territory.
3) Weak open driven by global uncertainty
Markets opened sharply lower after comments from US President Donald Trump on the ongoing war situation raised concerns over higher crude oil prices and global trade disruption. Buying returned gradually through the session as sentiment stabilised.
Broad-Based Pressure Across Sectors
IT and realty were the session’s outperformers, gaining 2.6% and 1% respectively. Auto, PSU bank, oil and gas, pharma and consumer durables each shed 1%.
Pharma stocks remained under pressure after reports emerged that the US government may consider tariffs on imported pharmaceutical products, raising concern for Indian companies with significant US revenue exposure.
Defense stocks held firm. Strong export data and continued government support for domestic manufacturing kept investor interest intact in the sector.
Nifty Gainers and Losers
HCL Technologies, Tech Mahindra, TCS, Wipro and Tata Consumer were among the top Nifty gainers on Thursday. Eternal, Asian Paints, Eicher Motors, Bajaj Auto and Sun Pharma were the session’s major laggards.
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